Results for "oil economy".

Even before the Iran oil shock, US economy was under stress

In the absence of a direct military threat against the United States, nothing should concentrate a president’s mind as much as the economy, especially when signs are pointing to possible “stagflation”…

UAE quits OPEC. Here’s what it means for the oil prices and the economy.

UAE quits OPEC in major blow to global oil producers group

The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a hi…

Middle East crisis could cost world $1tn while oil firms make ‘obscene’ profit, analysis finds

Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are suffering The Middle East oil and gas crunch will impose as much as a…

Will Canada choose oil and bondage to the U.S., or forge our own destiny?

As our southern neighbour moves toward becoming a petrostate, Canada must reckon with having an even less diversified economy…

European stocks and government bonds fall as oil price climbs

Energy shock intensifies fears that global economy faces prolonged period of higher inflation…

Carney to Launch Sovereign Wealth Fund to Distance Canada’s Economy From U.S.

The sovereign wealth fund announced by Prime Minister Mark Carney will be far smaller than ones in other oil producers like Norway and the Middle East.…

Trump says he has upper hand in Iran war

President Trump says Iran's economy is on the brink of collapse as a stalemate plays out in the Strait of Hormuz, driving global oil and gas prices up. CBS News' Nancy Cordes reports.…

Trump defends war with Iran as gas prices climb to highest level since 2022

During a celebration for the Artemis II crew at the White House, President Trump defended the war with Iran as the U.S. economy grapples with rising gas prices. Global oil prices climbed above $120 pe…

Rising costs forcing 3m UK households to skip meals, Which? report finds

Consumer insight tracker shows 85% are worried about food prices and a majority think the economy will deteriorate Three million UK households are being forced to skip meals as consumers resort to dra…